du buys stake in Abu Dhabi data centre
UAE operator du has acquired a 10% stake in the Khazna Data Centre in Abu Dhabi.
The stake is owned by the country’s government and du has spent a reported 57.5 million dirhams ($15.7 million) on the deal.
It is still pending on funding requirements, the company said in a statement yesterday.
The Khazna Data Centre is owned entirely by Abu Dhabi government-owned investment vehicle, Mubadala, and under terms of the agreement, du will appoint one director to the Mubadala board.
Mubadala owns approximately 20% of du, and earlier this year, du extended its contract with Injazat Data Systemsfor managed co-location services in its Abu Dhabi-based Tier IV data centre.